1427 29 Numa St · New Orleans, LA 70114

$230,000

6 bd · 4.0 ba · 2,025 sqft · MultiFamily · 286 Days on market

Built 2008 Good condition $114/sqft · 11% above area Est $207k · 11% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• ARV discount +2.4/15.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

Key facts

• Built 2008
• Listed 286 days

What this means for you Summary

Snapshot

• This is a 1×3bd/2ba + 1×2bd/2ba units multifamily listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $831 ($10k/yr) — positive. Per door: $416/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.4% in New Orleans — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.7%/yr); 265 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,064/mo this rent would consume 85% of the median local household income ($43k/yr) (locally 2240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $40k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.63%
• Cash-on-cash: 15.49%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $206,529
• List price: $230,000
• Delta: 11.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.10×
• Total profit: $6,729
• Equity at exit: $34,294

10-year hold

• IRR: 9.2%
• Equity multiple: 1.61×
• Total profit: $39,504
• Equity at exit: $19,886

Cash invested: $64,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $3,064 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $831

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 68%

Sensitivity live

Price	-10% $990	-5% $911	+0% $831	+5% $752	+10% $672
Rent	-10% $589	-5% $710	+0% $831	+5% $952	+10% $1,073
Rate	-1.0pp $947	-0.5pp $890	base $831	+0.5pp $771	+1.0pp $711

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,581
1× unit	2	2	$1,483
Total (2 units)			$3,064

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	12d	1	1.02mi

Listing history 29 events

1. 2026-06-18
   days on market $230,000 Active 286 DOM
2. 2026-06-17
   days on market $230,000 Active 285 DOM
3. 2026-06-16
   days on market $230,000 Active 284 DOM
4. 2026-06-15
   days on market $230,000 Active 283 DOM
5. 2026-06-13
   days on market $230,000 Active 281 DOM
6. 2026-06-10
   days on market $230,000 Active 278 DOM
7. 2026-06-09
   days on market $230,000 Active 277 DOM
8. 2026-06-08
   days on market $230,000 Active 276 DOM
9. 2026-06-07
   days on market $230,000 Active 275 DOM
10. 2026-06-05
    days on market $230,000 Active 272 DOM
11. 2026-06-03
    days on market $230,000 Active 271 DOM
12. 2026-06-02
    days on market $230,000 Active 270 DOM
13. 2026-06-01
    days on market $230,000 Active 269 DOM
14. 2026-05-31
    days on market $230,000 Active 268 DOM
15. 2026-04-02
    price $230,000 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

16. 2026-03-25
    price $240,000 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

17. 2026-01-30
    price $250,000 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

18. 2026-01-07
    price $254,900 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

19. 2025-11-06
    price $259,900 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

20. 2025-10-22
    price $264,900 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

21. 2025-09-15
    status Active 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

22. 2025-08-20
    historical 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

23. 2025-08-10
    listed $269,900 Active 95-char remark

    Show marketing remark (95 chars)

    INVESTMENT OPPORTUNITY IN ALGIERS! 3/2 on each side! Perfect to start or add to your portfolio.

24. 2022-10-17
    soldstatus $250,000 Closed 472-char remark

    Show marketing remark (472 chars)

    Perfect investment opportunity in Algiers!! Each unit contains 3 bedrooms 2 bathrooms. 1427 side has been recently updated with new paint, LVP floors, and stainless steel whirlpool appliances. Plenty of space and street parking. Live on one side and have tenant on the side cover your mortgage or rent out both sides and cover your entire mortgage and more. 1429 is currently rented with a section 8 tenant paying $1,200/month. 1427 is vacant and easy to show. OWNER/AGENT

25. 2022-09-14
    status Pending 472-char remark

    Show marketing remark (472 chars)

    Perfect investment opportunity in Algiers!! Each unit contains 3 bedrooms 2 bathrooms. 1427 side has been recently updated with new paint, LVP floors, and stainless steel whirlpool appliances. Plenty of space and street parking. Live on one side and have tenant on the side cover your mortgage or rent out both sides and cover your entire mortgage and more. 1429 is currently rented with a section 8 tenant paying $1,200/month. 1427 is vacant and easy to show. OWNER/AGENT

26. 2022-09-01
    listed $249,000 Active 472-char remark

    Show marketing remark (472 chars)

    Perfect investment opportunity in Algiers!! Each unit contains 3 bedrooms 2 bathrooms. 1427 side has been recently updated with new paint, LVP floors, and stainless steel whirlpool appliances. Plenty of space and street parking. Live on one side and have tenant on the side cover your mortgage or rent out both sides and cover your entire mortgage and more. 1429 is currently rented with a section 8 tenant paying $1,200/month. 1427 is vacant and easy to show. OWNER/AGENT

27. 2020-08-26
    soldstatus $150,000 Closed
28. 2020-06-12
    status Pending
29. 2020-03-13
    listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,768
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,941
• − Management: −$2,941
• − Depreciation: −$6,691
• Taxable income: $6,711
• Est. tax owed @ 24.0%: −$1,611
• After-tax cash flow: $8,362/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with recent updates, making it a solid investment opportunity.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and value
• Both Replace front door — A new door can improve security and aesthetics
• Both Install new lighting fixtures — Modern lighting can brighten the interior and exterior
• Both Add a small front porch — A porch can increase the home's appeal and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and value ↑
• Both Replace front door — A new door can improve security and aesthetics ↑
• Both Install new lighting fixtures — Modern lighting can brighten the interior and exterior ↑
• Both Add a small front porch — A porch can increase the home's appeal and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Orleans Parish
• NCES district ID: 2201170
• Math proficiency: 11% ▼ -52.00%
• Reading proficiency: 27% ▼ -46.00%
• Median HH income: $37,011
• Composite: 15.78/100
• National rank: #9271
• State rank: #69 of 98 in LA

Livability — New Orleans

• Score: 81/100
• State rank: #3
• US rank: #1383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C- Employment D Housing B- Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Orleans, LA
• County: Orleans Parish · 338,817 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 513,025 people
• By 2030: 575,781 · +12.2%
• By 2040: 700,174 · +36.5%
• By 2050: 826,541 · +61.1%
• By 2075: 1,123,374 · +119.0%
• By 2100: 1,355,609 · +164.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Orleans

• 2024 margin: Solid D (+67.0) · D 82.2% · R 15.2% · Other 2.7%
• 2008→2024 swing: +6.7pp toward D · 2008: 60.3pp · 2024: 67.0pp
• All cycles: 2024: D+67.0 2020: D+68.2 2016: D+66.2 2012: D+62.5 2008: D+60.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+15.1% since first listed

15 events — show timeline

• 2026-04-02 Price Changed $230,000 GSREIN
• 2026-03-25 Price Changed $240,000 GSREIN
• 2026-01-30 Price Changed $250,000 GSREIN
• 2026-01-07 Price Changed $254,900 GSREIN
• 2025-11-06 Price Changed $259,900 GSREIN
• 2025-10-22 Price Changed $264,900 GSREIN
• 2025-09-15 Relisted — GSREIN
• 2025-08-20 Listing Removed — GSREIN
• 2025-08-10 Listed $269,900 GSREIN
• 2022-10-17 Sold (MLS) $250,000 GSREIN
• 2022-09-14 Pending — GSREIN
• 2022-09-01 Listed $249,000 GSREIN
• 2020-08-26 Sold (MLS) $150,000 GSREIN
• 2020-06-12 Pending — GSREIN
• 2020-03-13 Listed $199,900 GSREIN